The Media is Giving me a Headache!

Real Estate Broker/Owner with HomePlace Realty

I am listening to CNBC and they are talking about how great it is that interest rates are so low.  Of course, they then bring in the negative and comment, "Rates may be low, but who has 25% to put down and a credit score of 750"?

Where do they get this information.  We are getting buyers into homes everyday with only THREE percent down and FICO's as low as 580!

Please do not  believe everything you hear or read and always remember, "The mass is always wrong"  If you follow the mass, you will always be average at best.  Most successful people have learned to buy and sell against the grain.

If I can ever help you buy or sell in Newport Beach CA, Newport Coast CA, Irvine CA, Costa Mesa CA, please give me a call!

Dan Rawitch

Comments (3)

Dean Akey
Saint Charles, IL

Great post Dan.  I do think that unless lenders are willing to work with folks who have marginal credit we wont see significant improvement in our economy.  If you are getting folks financed that have a 580 credit score you are doing amazing.  Congratulations...

Dec 17, 2008 05:23 AM
Dan Rawitch
HomePlace Realty - Newport Coast, CA

Thanks Dean!

My little 3% down with a 580 credit score secret, is FHA.  As well as selling Real Estate, I am a principle with Milestone Mortgage.  6 months ago we had never done an FHA and now, 65% of our entire pipeline is FHA.

It really works!  Please let me know if I can ever help you!



Dec 17, 2008 05:35 AM
David Painter
Keller Williams Realty - Spartanburg, SC

Good to have you on Active Rain.  This is a good site for gathering information and interesting to see what others are blogging about.

Dec 17, 2008 02:08 PM